Benson Inc During 2022 Benson Purchased $1450000 of Raw Materials Incurred Direct

question 37

Multiple Choice

Benson Inc.'s accounting records reflect the following inventories: $\begin{array}{lcc} & \text { Dec. 31,2021 } & \text { Dec. 31,2022 } \\\hline \text { Raw materials inventory } & \$ 80,000 & \$ 64,000 \\\text { Work in process inventory } & 104,000 & 116,000 \\\text { Finished qoods inventory } & 100,000 & 92,000\end{array}$ During 2022 Benson purchased $1450000 of raw materials incurred direct labor costs of $250000 and incurred manufacturing overhead totaling $160000. Assume Benson's cost of goods manufactured for 2022 amounted to $1660000.How much would it report as cost of goods sold for the year?

• A)$1668000
• B)$1568000
• C)$1760000
• D)$1652000

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